Sweeney was overheard in an elevator leaving the awards telling Spencer that she was “upset. I feel bad for Viola,” Sweeney said. Spencer, who had just won an Oscar herself for supporting actress, asked Sweeney how she thought the upset had happened. “I have my theories,” the executive said, without elaborating.

The Streep question was on many people’s minds. While her turn as Margaret Thatcher in “The Iron Lady” had earned her several honors in the months leading up to the Academy Awards, including a Golden Globe and a BAFTA, Davis seemed to have Oscar momentum on her side after she won the Screen Actors Guild Award. (Because actors constitute the largest branch of the motion picture academy, which hands out the Oscars, SAG awards are seen as strong bellwethers.)

Other factors also lay in Davis’ favor: “The Help” was a box office hit and received more critical praise than “Iron Lady.” And although Streep is the most-nominated actress in Oscar history, she had been on a serious losing streak, having struck out with academy voters on 12 consecutive previous nominations.

One popular explanation centered on the awards campaign run by Harvey Weinstein, whose company distributed “Iron Lady.” One academy member, who asked not to be named because he did not want to jeopardize business relationships, said that the film’s backers had emphasized to members how Streep, 62, was practically due a trophy after so many years of going unrecognized. A Weinstein consultant did not respond to a request for comment on the company’s strategy.